Mr Family Office Profile picture
Feb 2, 2023 β€’ 17 tweets β€’ 4 min read β€’ Read on X
Looking for a career change? The #FamilyOffice industry could be the right for you.

From investment advisors to gardeners, a 🧡 on the jobs and salaries in the Family Office world.

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#familyoffice #career #job #jobsearch Image
Investment Advisor/Manager: These professionals are responsible for managing the investment portfolios of the clients and ensuring their wealth grows.

Typical salary range of $80,000 to $250,000.
Wealth Strategist: They help families create and implement a wealth plan that aligns with their long-term goals and values.

Typical salary range of $150,000 to $300,000.
Tax Specialist: These professionals help clients with tax planning, compliance and preparation.

Typical salary range of $70,000 to $200,000.
Estate Planner: They help clients with estate planning, including will preparation and asset distribution.

Typical salary of $100,000 to $250,000.
Philanthropy Advisor: They assist clients in identifying their charitable goals and help them to implement them.

Typical salary range of $70,000 to $200,000.
Operations Manager: They are responsible for the day-to-day operations of the Family Office and ensure the smooth running of its various departments.

Typical salary of $80,000 to $200,000.
Compliance Officer: They ensure that the Family Office complies with all relevant regulations and laws.

Typical salary range of $70,000 to $150,000.
Human Resource Manager: They are responsible for managing the HR functions of the Family Office and ensuring that employees are well taken care of.

Typical salary of $80,000 to $200,000.
Marketing & Communications Manager: They are responsible for promoting the brand and services of the Family Office and building relationships with clients.

Typical salary range of $70,000 to $200,000.
Chef: A professional chef is responsible for preparing meals for the family, entertaining guests and ensuring that their dietary needs are met.

Typical salary range of $50,000 to $150,000.
Gardener: They maintain the grounds and gardens of the property, ensuring that they are always in pristine condition.

The typical salary of $40,000 to $100,000.
Childcare Provider: They are responsible for the care and upbringing of the children in the family, including schooling, extracurricular activities and providing a safe and nurturing environment.

Typical salary range of $40,000 to $150,000.
Personal Assistant: They provide administrative and personal support to the family, including scheduling appointments, managing emails and ensuring that their daily needs are met.

Typical salary range of $50,000 to $150,000.
Housekeeper: They maintain the cleanliness and organization of the family's residence, ensuring that everything is in order.

Typical salary range of $30,000 to $70,000.
Driver: They are responsible for transporting the family and guests, ensuring that they arrive at their destination safely and on time.

Typical salary of $40,000 to $100,000.
If you found this interesting, please like and follow for Family Office news, job postings and gossip!

@MrFamilyOffice

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More from @MrFamilyOffice

Sep 10
Deloitte Private released a major family office report this week

8 key takeaways
Some truly mind-blowing numbers ↓↓
1. Family office expansion explodes

β€’ 8,030 single family offices globally today, up from 6,130 in 2019 (31% increase)
β€’ Projected growth: 12% to 9,030 family offices next year
β€’ Expected increase of 33% to 10,720 family offices by 2030
β€’ This represents a 75% increase over a 10-year period
2. Family offices are becoming an economic powerhouse

β€’ In 2019, total wealth for families with family offices was $3.3 trillion
β€’ Today, it stands at $5.5 trillion (67% increase over five years)
β€’ Projected growth: $6.9 trillion by 2025 (26% increase)
β€’ $9.5 trillion by 2030 (73% increase from today, 189% increase from 2019)
β€’ Family offices' total AUM is $3.1 trillion today, expected to rise to $5.4 trillion by 2030 (73% increase)
β€’ North America is projected to see the greatest increase in family wealth and AUM, with a 258% rise by 2030, followed by Asia Pacific at 208%
Read 10 tweets
Aug 18
Family Office pay (non-execs), a thread: Image
Portfolio Managers

Focus on growing and preserving the family's wealth through diversified investments in equities, real estate, private equity, and hedge funds

Salary Range: (total compensation by AUM, 25th percentile - 75th percentile, US)

Less than $500 million: $185,000 - $279,375
$500mn - $999 million: $201,250 - $373,750
$1bn - $2.49 billion: $266,251 - $514,000
$2.5 billion+: $324,608 - $643,716

Background: investment management, financial analysis, or related fields. They may come from investment banks, asset management firms, or other family offices
Investment Analysts

Conduct research and analysis to support investment decisions

Salary Range: (total compensation by AUM, 25th percentile - 75th percentile, US)

Less than $1 billion: $134,250 - $189,714
$1bn - $2.49 billion: $137,325 - $190,750
More than $2.5 billion: $165,625 - $209,003

Background: finance, economics, or related fields, with strong analytical and research skills. Often hired from investment banks, asset management firms, or other research-focused roles
Read 20 tweets
Aug 10
Executive pay at Family Offices, a thread:
Chief Executive Officer

Directs the overall operations of the family office, setting strategic objectives, and ensuring alignment with the family's goals. Typically, the higher the AUM, the more likely the CEO will be a non-family member

Salary Range: (total compensation by AUM, 25th percentile - 75th percentile, US)

Less than $500 million: $456,250 - $925,000
$500mn - $999 million: $388,000 - $794,000
$1bn - $2.49 billion: $735,085 - $1,315,000
$2.5 billion+: $1,052,679 - $2,475,000

Background: CEOs often come from executive leadership roles in corporations, private banks, investment firms, or other family offices. They should bring experience in strategic planning and operations management
Chief Financial Officer (CFO)

Manages financial planning, reporting, liquidity and risk management

Salary Range: (total compensation by AUM, 25th percentile - 75th percentile, US)

Less than $500 million: $236,500 - $414,831
$500mn - $999 million: $430,000 - $750,000
$1bn - $2.49 billion: $429,227 - $762,500
$2.5 billion+: $548,500 - $900,704

Background: Accounting and finance is pretty much essential. Must tick the usual boxes: financial reporting, budgeting, tax planning, and regulatory compliance. Family offices seem to like hiring CFOs from Big 4 accountants, big corporations or other family offices
Read 9 tweets
Jul 30
Scott Galloway on taxes - β€œEvery organization, every corporation does this to the hilt - and so should you”

He highlights 2 legal tactics used by the rich to minimize taxes:Image
Tactic 1: Leveraging Investments Without Selling

Strategy: Wealthy individuals buy stocks and never sell them, instead borrowing against them

Example: Owning $100 in Amazon stock that has appreciated by 50%

Instead of selling the stock and realizing a $50 capital gain (which would be taxed), they borrow against the stock's value

This allows continued growth of the stock while avoiding capital gains tax

Interest on the borrowed amount is minimal compared to the tax burden of selling the stock

Invest, borrow against the investments, and eventually pass them into a trust to avoid taxes when the owner dies

Avoids immediate tax liabilities and enables continued asset growth, making it a highly effective wealth management tactic
Tactic 2: State Tax Arbitrage

Strategy: Moving to states with favorable tax laws to minimize tax liabilities

States like Texas and Florida have no state income tax, unlike high-tax states such as California and New York

Example: Jeff Bezos moving from Seattle to Miami could save him around $600 million in taxes

Such moves are often presented as personal decisions, but underlying motives typically involve significant tax savings
Read 4 tweets
Jun 11
European family office compensation:
UK - family office salaries (Β£) Image
UK - family office bonuses Image
Read 6 tweets
Apr 8
Family offices are not built the same

From conservative allocators to bold venture capitalists

7 investment blueprints:
1/ πŸͺ„ The Legacy Steward:

Endowment Portfolio Archetype

- 3rd, 4th gen+, $3B-$5B+ AUM
- Pursues endowment-like structure
- Prioritizes max diversification & asset retention
- Protecting wealth major focus

Real-life example: Cargill & MacMillan Family Office
2/ 🎯 The Hands-On Investor:

Direct Investment Portfolio Archetype

- Avoids stock market & investment funds
- Mixes real estate & private equity strategy
- Seeks control & diversification

Real-life example: Koch Industries
Read 9 tweets

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